Ref: MPML/PMS/141/2008
Date : August 05, 2008Companies Queue Up For Nuclear Power Play
"JSW Steel said it was keen to jump into the bandwagon. "
"ONGC's international uranium mining operations will be handled by a new joint venture company - ONGC UCIL - through a 74:26 partnership. "
"Engineering and constructions major L&T is also hopeful of foraying into reactor manufacturing."
"R-ADAG is also believed to be holding exploratory talks with global majors for a foray into manufacture of nuclear power reactors. "
"Reliance Infrastructure is also exploring the possibility of the company's entry in the nuclear power and is in talks with global builders of nuclear reactor"
IT IS all set to emerge as the next big rush for India Inc. Within days of the UPA government winning the trust vote on the Indo-US nuke deal and the International Atomic Energy Agency (IAEA) approving it, Indian companies seem to be making a beeline for a piece of the nuclear power business pie.
Soon after the deal was voted on, JSW Steel said it was keen to jump into the bandwagon. Oil and gas major ONGC said it would start mining uranium with Uranium Corporation of India (UCIL). ONGC's international uranium mining operations will be handled by a new joint venture company - ONGC UCIL - through a 74:26 partnership. The collaboration will leverage ONGC's expertise in exploration of hydrocarbons to commercially exploit uranium. Engineering and constructions major L&T is also hopeful of foraying into reactor manufacturing.
"The international community as well as the domestic companies are too eager to enter the nuclear power generation arena and they are looking forward to the Indo-US nuke deal. It is a good sign and they have been waiting for long," department of atomic energy director and spokesperson SK Malhotra told ET.
"We want to foray into nuclear power. We are talking to global majors," agency reports quoted JSW Steel vice-chairman Sajjan Jindal. The group, through its power generation subsidiary JSW Energy, is planning to either enter into a joint venture or a technology tie-up with a global major.
However, private sector players are yet to be allowed an entry into nuclear power generation. It will require an amendment of the existing Atomic Energy Act. Till then, R-ADAG is also believed to be holding exploratory talks with global majors for a foray into manufacture of nuclear power reactors.
Reliance Infrastructure is also exploring the possibility of the company's entry in the nuclear power and is in talks with global builders of nuclear reactor like General Electric, Russiabased Atom Story Export (ASE) and state-run Nuclear Power Corporation of India (NPCIL) for a possible JV. Reliance Power has planned an initial investment over Rs 20,000 crore to foray into nuclear power generation. State-owned Bhel has plans to spend Rs 1,500 crore in two years for building plants to supply components for reactors of 1,600 mw.
NPCIL's ex-chairman to head R-Infra venture
KOLKATA: Even as the Manmohan Singh government progresses towards closing the civilian nuke deal with the US, the Anil Dhirubhai Ambani Group is silently doing the groundwork for its ambitious nuclear power project, reports Debjoy Sengupta. For starters, group company Reliance Infrastructure (R-Infra) has formed a nuclear power initiative group. And it has roped in V K Chaturvedi, former chairman of Nuclear Power Corporation (NPCIL), to head it. The company, it is learnt, is in talks with several domestic and foreign nuclear reactor builders, including General Electric, Russia's Atomstroy Export (ASE) and state-run NPCIL for a possible JV. R-Infra's initiative group will explore entry avenues in this emerging sector.
(Source: - Economic Times)